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Witness The Future-General Motors Investor Event 2021

Witness The Future-General Motors Investor Event 2021

General Motors to Outline Plans for Decade of Growth, Doubling of Annual Revenues by 2030 with Increased Margins


General Motors Co. (NYSE: GM) meets with investors today and tomorrow to detail its plans to double annual revenues by the end of the decade while growing EBIT-adjusted margins as it transitions to an all-electric future. GM has already announced plans to invest $35 billion through 2025 in all-electric and autonomous vehicles and launch more than 30 new EVs globally.

“GM’s vision of a world with zero crashes, zero emissions and zero congestion has placed us ahead of much of the competition in electrification, software-enabled services and autonomy,” said GM Chair and CEO Mary Barra. “Our early investments in these growth trends have transformed GM from automaker to platform innovator, with customers at the center. GM will use its hardware and software platforms to innovate and improve their daily experience, leading everybody on the journey to an all-electric future.”

Here’s Everything You Have Missed:

EV 2025

Our Path to an All-Electric Future- Zero Crashes, Zero Emissions, Zero Congestion

  • GM’s plan to reach leadership in EV market share in the U.S. while growing its profits from internal combustion engine (ICE) vehicles. GM’s growth will be driven by the Ultium modular EV platform the company developed to launch a broad portfolio of highly desirable EVs using common, scalable components. The array of Ultium-powered EVs will include high-volume entries, including a Chevrolet crossover priced around $30,000, Buick crossovers, trucks from Chevrolet, GMC and HUMMER EV, as well as exquisitely crafted Cadillac EVs such as the upcoming LYRIQ and CELESTIQ.

Dual Platform Approach

  • GM’s dual platform Ultium plus Ultifi strategy to aggressively expand digital services and increase the lifetime value of its vehicles. Ultifi is an end-to-end software platform designed to unlock new vehicle experiences and connect customers’ digital lives. It will help enable the frequent and seamless delivery of software-defined features, apps and services to customers over the air.

“Our role is not just to direct our own company toward a vision of zero crashes, zero emissions and zero congestion. It is to lead and influence others. To set the standards that others will follow. To take everybody on the journey, to a more equitable, safer, all-electric future.” says GM Chair and CEO Mary Barra.

A look inside GM’s global Innovation and Growth team and its mission to disrupt any market where it sees opportunity, and open new markets. GM is managing about 20 startups of various sizes and maturity levels, some in early phases, and others such as BrightDrop and OnStar Insurance that are launching now.

Plans for more than 50 percent of the company’s North America and China manufacturing footprint to be capable of EV production by 2030. The five-year pull ahead to 2025 of GM’s commitment to source 100 percent renewable energy for the company’s U.S. facilities.

In addition, GM is sharing the first details of Ultra Cruise, a significant next step in hands-free advanced driving-assistance technology that will be offered starting in 2023. Designed to handle 95 percent of all driving scenarios on every paved road in the U.S. and Canada over time, it will create a virtually door-to-door hands-free driving experience. Ultra Cruise is being developed to be the premier advanced driver-assistance system on the market in terms of both capability and safe operation.

SOURCE General Motors Co.

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New Morrey Volvo Cars Burnaby Offers A Unique Volvo Experience

New Morrey Volvo Cars Burnaby Offers A Unique Volvo Experience

Volvo Car Canada Ltd., a leader in automotive safety and sustainability, is proud to announce the opening of Morrey Volvo Cars Burnaby.


Following the recent opening of Volvo Cars Royal Oak in Calgary, the launch of Morrey Volvo Cars demonstrates further growth for the Volvo brand as it turns its focus to the Lower Mainland as a primary market for expansion. 

With electric vehicle sales in British Columbia increasing in 2021, the opening of Morrey Volvo Cars Burnaby will help address the consumer demand for EV’s and will better serve the growing sales and service needs of valued Volvo customers in Burnaby and its surrounding areas. 

Volvo Car Canada Ltd. is a subsidiary of Volvo Car Group of Gothenburg, Sweden. VCCL provides marketing, sales, parts, service, technology and training support to the 38 Volvo automobile retailers across Canada

“B.C. is a national leader in EV adoption, and the Lower Mainland is one of the prime markets around the country where we have been able to grow our brand,” said Matt Girgis, managing director of Volvo Car Canada Ltd. “As such, we’re excited to now offer our customers a retail location in Burnaby. Congratulations to the Morrey Auto Group and team on the opening of this address, and welcome to the Volvo Family.” 

Conveniently located on 1.5 acres on Still Creek Drive in Burnaby, the new Morrey Volvo Cars offers a unique footprint amongst luxury automotive dealerships in the surrounding area. The 15,675 square foot facility offers a full-service showroom for both new and certified by Volvo vehicle sales, 6 service bays, and is in the active planning stages of installing electric vehicle chargers throughout the property to support Volvo’s all-electric future.

By the end of 2023, Morrey Volvo Cars Burnaby is also slated for a full renovation to reflect Volvo’s design philosophy for all retail locations. Dubbed the ‘Volvo Retail Experience’ or ‘VRE’ for short, this facility design concept features both understated and modern Scandinavian design cues that reflect the company’s Swedish roots.

“We’re thrilled to have the opportunity to partner with Volvo Car Canada and are convinced that this new retail location will provide another convenient point of sales and service in Metro Vancouver to effectively serve the needs of our existing and future customers in this growing market,” said Jason Morrey, of Morrey Volvo Cars Burnaby.

For more information, please refer to the Volvo Cars Canada media website at:
www.media.volvocars.com/ca/en-ca

SOURCE Volvo Car Canada Ltd Press Release.

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Hyundai Motor Group Partners Grab To Accelerate EV Adoption In Southeast Asia

Hyundai Motor Group Partners Grab To Accelerate EV Adoption In Southeast Asia

Hyundai Motor Group and Grab Holdings Inc. (Grab) has announced an enhancement of their ongoing strategic partnership in mobility services. The next phase of the partnership will focus on accelerating EV adoption in Southeast Asia. The Group, including Hyundai Motor Company and Kia Corporation which are the Group’s affiliates, and Grab will further develop new pilots and initiatives that lower the barriers of entry for Grab driver and delivery-partners to adopt EVs, such as lowering the total cost of ownership and reducing range anxiety.

Survey results from initial EV pilot in Singapore found that high costs, lack of charging locations and long waiting times for charging are top barriers hindering Grab driver-partners from adopting EVs. Hence, the enhanced partnership will focus on addressing some of these barriers by piloting new EV business models such as leasing EVs with a battery-as-a-service model or car-as-a-service model, and EV financing. Both parties will also develop a joint EV roadmap to accelerate adoption in Southeast Asia. The pilot programs will start in 2021, beginning in Singapore, and expand to Indonesia and Vietnam.

As part of the roadmap development, the two parties will also conduct an EV feasibility study. The intent is to gain a deeper understanding into the gaps and barriers to wider EV ownership and adoption, then translating the findings from the study into practical ways to further develop the EV ecosystem. These insights will provide governments and ecosystem partners with ideas and best practices on how EV policies can be shaped to better address the day-to-day operational routines of ride-hailing drivers and delivery-partners. This comes at a critical time as last-mile logistics and deliveries continue to experience unprecedented growth, and EVs can play a huge role in reducing carbon emissions from vehicles.

In addition, in line with Hyundai Motor Group’s latest future strategy, both parties will explore collaboration in new business opportunities and technologies such as smart city solutions.

“Hyundai Motor Group and Grab were able to discover the possibility of EV businesses in Southeast Asia through our cooperation from 2018,” said Minsung Kim, Vice President of the Innovation Division at Hyundai Motor Group. “With Grab having the largest driver network in the region and Hyundai’s comprehensive mobility solutions, we are confident that together we can help to increase the adoption of EVs and ultimately reduce carbon emissions throughout the region. Beyond its on-going projects, the Group expects additional cooperation with Grab to be a key driver to lead the mobility market of the future in Southeast Asia.”

Russell Cohen, Group Managing Director of Operations, Grab, said: “While EVs are relatively nascent in Southeast Asia, Grab plans to play a vital role in working with partners and governments to accelerate EV adoption. As government EV policies and incentives are implemented and essential infrastructure like charging stations continue to be built, this partnership will provide insights and best practices on the usage of EVs as part of the day-to-day operations of driver and delivery-partners. For example, we’ve piloted ways to reduce driver-partners’ downtime by enabling them to swap their e-moped batteries at GrabKitchen while they wait to collect food orders. Successful EV adoption is a multi-stakeholder effort, particularly in Southeast Asia, and we’ll continue to leverage our technology and operational leadership to build a fleet for the future.”

 

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GM Will Boost EV And AV Investments To $35 Billion Through 2025

GM Will Boost EV And AV Investments To $35 Billion Through 2025

General Motors Co. (NYSE: GM) will increase its EV and AV investments from 2020 through 2025 to $35 billion, representing a 75 percent increase from its initial commitment announced prior to the pandemic.

The company’s enhanced commitment will accelerate its transformative strategy to become the market leader in EVs in North America; the global leader in battery and fuel cell technology through its Ultium battery platform and HYDROTEC fuel cells; and through Cruise, be the first to safely commercialise self-driving technology at scale.

“We are investing aggressively in a comprehensive and highly-integrated plan to make sure that GM leads in all aspects of the transformation to a more sustainable future,” said GM Chair and CEO Mary Barra. “GM is targeting annual global EV sales of more than 1 million by 2025, and we are increasing our investment to scale faster because we see momentum building in the United States for electrification, along with customer demand for our product portfolio.”

GM first shared its vision of a world with zero crashes, zero emissions and zero congestion nearly four years ago. Key factors changing the landscape include strong public reaction to the GMC HUMMER EV and HUMMER EV SUV, the Cadillac LYRIQ and the Chevrolet Silverado electric pickup; GM and dealer investments in the EV customer experience; public and private investment in EV charging infrastructure; and the global policy environment.

“There is a strong and growing conviction among our employees, customers, dealers, suppliers, unions and investors, as well as policymakers, that electric vehicles and self-driving technology are the keys to a cleaner, safer world for all,” Barra said.

Today’s announcement builds on GM’s initial commitment announced in March 2020 to invest $20 billion from 2020 through 2025, including capital, engineering expenses and other development costs, to accelerate its transition to EVs and AVs. In November 2020, the company increased its planned investment over the same period to $27 billion.

GM’s additional investments and new collaborations are far-reaching and designed to create even greater competitive advantages for the company. They include:

  • Accelerating Ultium battery cell production in the United States: GM is accelerating plans to build two new battery cell manufacturing plants in the United States by mid-decade to complement the Ultium Cells LLC plants under construction in Tennessee and Ohio. Further details about these new U.S. plants, including the locations, will be announced at a later date.
  • Commercialising U.S.-made Ultium batteries and HYDROTEC fuel cells: In addition to collaborating with Honda to build two EVs using Ultium technology – one SUV for the Honda brand and one for the Acura brand – GM announced June 15 it has signed a memorandum of understanding to supply Ultium batteries and HYDROTEC fuel cells to Wabtec Corporation, which is developing the world’s first 100 percent battery-powered locomotive.
  • Expanding and accelerating the rollout of EVs for retail and fleet customers: In November 2020, GM announced it would deliver 30 new EVs by 2025 globally, with two-thirds available in North America. Through the additional investments announced today, GM will add to its North America plan new electric commercial trucks and other products that will take advantage of the creative design opportunities and flexibility enabled by the Ultium Platform.  In addition, GM will add additional U.S. assembly capacity for EV SUVs. Details will be announced at a later date.
  • Safely deploying self-driving technology at scale: Cruise, GM’s majority-owned subsidiary, recently became the first company to receive permission from regulators in California to provide a driverless AV passenger service to the public. Cruise also was recently selected as the exclusive provider of AV rideshare services to the city of Dubai and is working with Honda to begin development of an AV testing program in Japan. In addition, GM Financial will provide a multi-year, $5 billion credit facility for Cruise to scale its Cruise Origin fleet. Developed through a partnership between GM, Honda and Cruise, the Cruise Origin will be built at GM’s Factory ZERO Detroit-Hamtramck Assembly Center starting in early 2023.

 

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Achieving Global Market Access For XEV Battery Systems

Achieving Global Market Access For xEV Battery Systems

The market for advanced electric vehicles (xEVs) is continuing to expand worldwide. Developers and original equipment manufacturers (OEMs) are facing growing numbers of regulations and standards addressing the safety and performance of the battery systems used to power these vehicles. Although many of these regulations touch on similar considerations, there are also important differences that must be taken into account during the various stages of battery design. Further, the regulatory approval process in key markets is often unique to a given country, and the successful navigation of this process requires a specific approach.

TÜV SÜD has published a new white paper to discuss the key safety and performance issues that must be addressed in all xEV battery designs as well as the special requirements applicable to xEV battery systems in the EU, the USA, China and other major markets worldwide.

“The continual innovation and high quality of batteries and battery systems will be a key factor in boosting consumers’ acceptance of xEVs. For the manufacturers of xEV batteries and battery systems, market access for their products depends on how successfully they can fulfil the requirements and standards of the regulatory authorities in the major automotive markets of the world,” said Johannes Roessner, Global Focus Segment Manager, New Energy Vehicles at TÜV SÜD and author of the white paper.

Evaluation of the safety and performance of chargeable batteries and battery systems is a critical element in the development of xEVs and xEV technologies. International standards play a major role in this process, and compliance with the requirements of the standard contributes to improving battery safety. Validation of safety, right from the design and development process, further paves the way for the products to pass the tests required by the regulatory authorities.

The OEMs of xEV batteries and battery systems must foresee the complexity and challenges involved in different homologation issues in key automotive markets and be prepared to tackle them. By working proactively with third-party expert organisations to address these issues in advance, OEMs can proceed more efficiently and effectively and achieve faster global access for their products.

 

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Future Electric Vehicle Platforms Will Be Flexible And Multifaceted

Future Electric Vehicle Platforms Will be Flexible And Multifaceted

As the automotive industry converges toward connected, autonomous, shared, and electric (CASE) mobility, original equipment manufacturers (OEMs) are working on re-engineering their conventional platforms to accommodate electric vehicle (EV) components such as batteries and motors. However, the industry’s transition from a vehicle-centric to a service-centric approach necessitates the development of new digital platforms (software, back-haul connectivity, and cloud).

Frost & Sullivan’s recent analysis finds that future modular EV platforms will be flexible and multifaceted, with various vehicle types and shapes built on a single program, saving OEMs the time, effort, and money required to launch new models. The study examines emerging market trends, platform development’s collaborative approach, new business models for platforms, and growth opportunities.

“In the future, the automotive industry will not be restricted to traditional vehicle manufacturing methods, and sales will focus on building new downstream sources of revenue with an emphasis on the users instead of the vehicles,” said Kamalesh MohanarangamProgram Manager, Mobility Practice at Frost & Sullivan.

“As the automotive industry shifts from the traditional pyramidal value chain to a flat value chain, mobility companies are sourcing chassis technology and platforms from third parties and integrating their technologies.”

Mohanarangam added: “Although the initial investment required to develop a dedicated, scalable platform is significantly high, the excessive flexibility this platform offers will offset this investment through economies of scale. Further, the amount of time, investment, and effort required to manufacture different battery electric vehicles (BEVs) on an EV platform is significantly less when compared to other platforms.”

Market participants should focus on the following growth prospects:

  • To overcome CASE-related challenges, industry participants must develop modular and flexible platforms to offer a number of models without significant investment.
  • With electrification and autonomy gaining popularity, OEMs need to push purpose-built platforms for EV production to enable the seamless introduction of automation.
  • Suppliers will need to expand their scope and focus on bringing in X-by-wire systems for spacious cabins. They should ensure that fail-operational functionalities are built into the system to develop and offer products that address evolving hardware architecture and the software consolidation process.
  • By developing end-to-end software platforms that are scalable and modular, OEMs can make resource sharing a reality, which will lower overall costs and add new capabilities.

 

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Rise In Demand For EVs To Reduce Carbon Footprint Creates Opportunities In Lithium-Ion Battery Packs Market

Rise In Demand For EVs To Reduce Carbon Footprint Creates Opportunities In Lithium-Ion Battery Packs Market

The emergence of lithium-ion batteries has been phenomenal. With the rising awareness about environmental conservation around the world, many individuals switched toward buying products or items that have a lower negative impact on the environment. As lithium-ion battery packs are used extensively in such products, the market will expand at a healthy CAGR of 11 percent across the forecast period of 2021-2031, to surpass a valuation of US$ 120.3 bn by 2031 according to a report by Transparency Market Research (TMR).

Lithium-ion battery packs are rechargeable batteries mainly used for electric vehicles and portable electronic items. These battery packs are eco-friendly alternatives to store energy and do not contain high levels of heavy metals that are harmful to the environment. All these aspects act as prominent growth generators for the lithium-ion battery packs market.

The demand for hybrid vehicles and electric vehicles has increased exponentially across various regions. The growing demand for these vehicles has led to an increase in the demand for lithium-ion battery packs, which will positively influence the growth of the global market for lithium-ion battery packs market.

Furthermore, government bodies of numerous countries are increasing their efforts to reduce carbon emissions across their regions. Various agreements such as the Paris Climate Agreement have been signed to speed up the process of decarbonisation. Densely populated countries like India are encouraging the production of electric vehicles through initiatives like Faster Adoption and Manufacturing of Hybrid and Electric Vehicles (FAME) and others. Thus, these factors are helping in increasing the growth opportunities across the lithium-ion battery packs market.

 

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TRUMPF Commits To E-Mobility And Sustainable Battery Production

TRUMPF Commits To E-Mobility And Sustainable Battery Production

The TRUMPF Group’s corporate venture capital unit has acquired a minority stake in the US start-up Battery Resourcers. Headquartered in Worcester, Massachusetts, Battery Resourcers has developed an efficient and eco-friendly process for recycling lithium-ion batteries. Unlike conventional methods that start by breaking down batteries into their separate chemical components, this new approach directly synthesizes new battery-ready cathode active materials from spent lithium-ion cells.

“The new recycling process developed by Battery Resourcers enhances the sustainability of e-mobility. It keeps scarce resources available in the circular economy, cuts the cost of manufacturing new battery cells, and saves energy in the production process,” says Dieter Kraft, Managing Director of TRUMPF Venture. The new technology recovers 97 percent of the metals contained in the battery cell, reducing cathode cost by 35 percent which compares well to manufacturing a new cell from virgin material. It also reduces production emissions by around 32 percent and energy consumption by 13 percent.

Lithium-ion batteries lie at the heart of most of today’s commercial electric vehicles. They are made from materials such as lithium, nickel, manganese and cobalt, which are expensive to mine and, in some cases, unsustainable. This is why the industry is determined to find the most efficient way to recycle battery cells.

“Our aim is to establish a sustainable value chain for lithium-ion batteries. Our technology can recycle almost all the materials used in cell production – not just for the batteries used in e-mobility, but also for the kinds of smaller batteries found in consumer electronics as well as large, industrial storage batteries regardless of their Lithium-Ion-based chemistries,” says Mike O’Kronley, CEO Battery Resourcers. Conventional recycling options are based on complex processes that mechanically crush the battery cells and chemically separate the mix of materials into individual purified constituent elements such as nickel, cobalt, manganese and lithium. The new method developed by Battery Resourcers eliminates much of this chemical processing by allowing the material mix to be turned into new active cathode material without the separation step, still resetting all memory from previous applications.

“This is a field that will be vitally important in the future. By investing in Battery Resourcers’ promising technology, we’re reinforcing our commitment to e-mobility,” says Kraft. As a key provider of high-tech manufacturing equipment, TRUMPF already plays an important role in driving forward e-mobility. The company’s systems and machines are ideally designed for tasks such as cutting sheet-metal components for battery housings and foils, and TRUMPF lasers are the perfect choice for welding battery cells, electronic contacts and electric motors.

 

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BMW And Ford Lead $130 Million Investment In Start-Up For Solid-State Batteries

BMW And Ford Lead $130 million Investment In Start-Up For Solid-State Batteries

Solid Power, an industry-leading producer of all solid-state batteries for electric vehicles has announced a $130 million Series B investment round led by the BMW Group, Ford Motor Company and Volta Energy Technologies. Ford and the BMW Group have also expanded existing joint development agreements with Solid Power to secure all solid-state batteries for future electric vehicles.

The investment positions Solid Power to produce full-scale automotive batteries, increase associated material output and expand in-house production capabilities for future vehicle integration. The BMW Group and Ford aim to utilise Solid Power’s low-cost, high-energy all solid-state battery technology in forthcoming electric vehicles.

“BMW and Ford now share leading positions in the race for all solid-state battery-powered electric vehicles,” said Doug Campbell, CEO and co-founder of Solid Power. “Solid Power now plans to begin producing automotive-scale batteries on the company’s pilot production line in early 2022 as a result of our partners’ continued commitment to Solid Power’s commercialisation efforts.”

Solid Power has demonstrated its ability to produce and scale next-generation all solid-state batteries that are designed to power longer range, lower cost and safer electric vehicles using existing lithium-ion battery manufacturing infrastructure.

Solid Power’s leadership in all solid-state battery development and manufacturing has been confirmed with the delivery of hundreds of production line-produced battery cells that were validated by Ford and the BMW Group late last year, formalising Solid Power’s commercialisation plans with its two long-standing automotive partners.

“Solid-state battery technology is important to the future of electric vehicles, and that’s why we’re investing directly,” said Ted Miller, Ford’s manager of Electrification Subsystems and Power Supply Research. “By simplifying the design of solid-state versus lithium-ion batteries, we’ll be able to increase vehicle range, improve interior space and cargo volume, deliver lower costs and better value for customers and more efficiently integrate this kind of solid-state battery cell technology into existing lithium-ion cell production processes.”

“Being a leader in advanced battery technology is of the utmost importance for BMW. The development of all solid-state batteries is one of the most promising and important steps towards more efficient, sustainable, and safer electric vehicles. We now have taken our next step on this path with Solid Power,” said Frank Weber, Member of the Board of Management BMW AG, Development.

Solid Power is currently producing 20 ampere hour (Ah) multi-layer all solid-state batteries on the company’s continuous roll-to-roll production line, which exclusively utilises industry standard lithium-ion production processes and equipment.

Both Ford and the BMW Group will receive full-scale 100 Ah cells for automotive qualification testing and vehicle integration beginning in 2022. Solid Power’s all solid-state platform technology allows for the production of unique cell designs expected to meet performance requirements for each automotive partner. Solid Power’s truly all-solid cell designs achieve higher energy densities, are safer and are expected to cost less than today’s best-performing lithium-ion battery cells.

 

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Toyota Electrification Plans To Boost Presence In Asia-Pacific EV Market

Toyota Electrification Plans To Boost Presence In Asia-Pacific EV Market

Toyota is set to unveil the concept version of the first model in its new battery electric vehicle (BEV) series, the Toyota bZ4X, in Shanghai and establish a full line-up of EVs to reduce CO2 emissions with the aim of having 70 electrified models by 2025.

Following this news, Bakar Sadik Agwan, Senior Automotive Consulting Analyst at GlobalData, a leading data and analytics company, offers her view:

“Toyota presently has only 4 BEVs in its portfolio and the new launches will enhance its position in the Japan and global BEV market. Several global OEMs, including Toyota, presently do not have a strong BEV portfolio due to their strategic priorities, low volumes and profitability concerns with battery vehicles. But the EV scenario has changed rapidly and there are significant opportunities in EV space due to push from the regional governments, reduction in costs and the availability of wide-range of products.

In addition to global market, Toyota’s BEV portfolio expansion will help it to tap significant opportunities in its home market, Japan, which presently does not have attractive BEV offerings and is witnessing high growth in demand for BEVs from select players such as Nissan and Tesla. Nissan’s Leaf is the only popular and successful BEV available for the mass market in Japan. While Tesla caters to the premium segment with sales of nearly 2,000 units annually.

In the recent past, Asia-Pacific has witnessed major developments in the EV market. Players such as Hyundai are trying to lead with innovative products and standout features while technology companies such as Huawei, Sony and Xiaomi are trying to penetrate the BEV market. The market is getting fiercely competitive day by day and automakers need to respond with suitable products to make their future sustainable.”

 

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